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Air Travel Industry Analysis
Spend growth in the air travel industry is expected to touch a value of over USD 170 billion between 2018-2023, with spend momentum accelerating at a CAGR of over 3%. This spend growth will be attributed to the robust demand for business travel in emerging economies and an increase in global passenger traffic. Many leading air travel service providers are offering long-haul low-cost air travel services, especially in emerging economies such as Malaysia and Singapore, at low prices to buyers. The market for long-haul low-cost carriers is further expected to grow owing to rising middle-income group, increasing affordability, and growth of the tourism industry in emerging economies such as India, Brazil, and China.
Top Spending Regions in the Air Travel Industry
The introduction and the growing requirement for long-haul flights for business purposes and leisurely air travel will be one of the primary spend accelerators in the air travel industry across the key geographies during the forecast period.
This region is home to a rapidly growing market for long-haul flights that are witnessing a high demand owing to the increase in the frequency of business and leisure air travel across the countries. The prevalence of a favorable regulatory framework pertaining to the aviation industry will cater to spend growth in the air travel industry in this region during the forecast period.
The United States
Introduction of cost-effective prices for round trips from the US to Asian cities is favoring the outbound air travel services in the US. Increasing demand for charter flights from the corporate sector will also result in an incremental category spend in the region. According to reports, the leading service providers are contemplating to introduce low-cost long-haul flights to widen the access of the middle-class income group. This is expected to accelerate the category growth in the US to a large extent.
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Insights Offered in this Air Travel Industry Report
Insights into Some of the Leading Air travel Suppliers
The air travel industry procurement intelligence report has enlisted the top suppliers, best selection criteria, and negotiation strategies for such suppliers. These insights will aid buyers to take a collaborative approach with the air travel suppliers to identify areas where they can optimize their procurement spend. The top air travel suppliers highlighted in this report include:
Criteria to select suppliers in this dynamic Air travel industry is subject to change based on the day-to-day market outlook. Get a free demo of our procurement platform to gain immediate access into real-time insights to the changing suppliers selection criteria.
SpendEdge presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.